Ultimate Software announces merger with Kronos

February 28, 2020 - Research U24

Ultimate Software, a leader in human capital management (HCM) software, has announced a merger with Kronos Incorporated, a longstanding provider of workforce management (WFM) and HCM solutions. The announcement follows the acquisition of both vendors by Hellman & Friedman Private Equity and is meant to expand both Ultimate and Kronos’ respective user bases and augment existing functionality. Nucleus expects that the two vendors will eventually combine their existing functionality into a full suite HCM and WFM offering for both enterprise and SMB markets, while also retaining standalone WFM. This merger reflects the expected consolidation of the HCM space, as vendors look to compete and differentiate themselves.